Orange County-Poughkeepsie Limited Partnership (Tables)

6 Months Ended

Jun. 30, 2014

Orange County-Poughkeepsie Limited Partnership [Abstract]

Summarized O-P Income Statement Information

The following summarizes the income statement (unaudited) for the three months ended June 30, 2014 and 2013 that the O-P provided to the Company:

		For the three		For the three
		months ended		months ended
($ in thousands)		June 30, 2014		June 30, 2013
Net sales	$	86,305	$	81,176
Cellular service cost		42,441		36,307
Operating expenses		23,037		22,237
Operating income		20,827		22,632
Other income (expense)		42		4
Net income	$	20,869	$	22,636
Company's share (1)	$	558	$	1,835

(1)      Company's share for the three months ended June 30, 2014 was calculated using a weighted average ownership rate of 2.673% due to the fact that the Company exercised the Put option and sold all of its ownership interest on April 30, 2014.

The following summarizes the income statement (unaudited) for the six months ended June 30, 2014 and the six months ended June 30, 2013 that O-P provided to the Company:

		For the six		For the six
		months ended		months ended
($ in thousands)		June 30, 2014		June 30, 2013
Net sales	$	170,746	$	161,068
Cellular service cost		80,051		72,287
Operating expenses		44,726		43,635
Operating income		45,969		45,146
Other income (expense)		62		7
Net income	$	46,031	$	45,153
Company's share (2)	$	2,597	$	3,661

(2)      Company's share of income for the six months ended June 30, 2014 is a blend of its ownership rate of 8.108% for first quarter earnings and the weighted average ownership rate of 2.673% for the second quarter earnings due to the fact that the Company sold all of its ownership interest on April 30, 2014.

Summarized O-P Balance Sheet Information

		As of
($ in thousands)		December 31, 2013
Current assets	$	23,351
Property, plant and equipment, net		41,646
Other assets		365
Total assets	$	65,362
Total liabilities	$	17,887
Partners' capital		47,475
Total liabilities and partners' capital	$	65,362